Textron Inc. (NYSE:TXT) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its holdings in Textron Inc. (NYSE:TXT) by 17.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,577 shares of the aerospace company’s stock after buying an additional 534 shares during the quarter. iA Global Asset Management Inc.’s holdings in Textron were worth $317,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Textron in the 2nd quarter valued at $25,000. True Wealth Design LLC purchased a new stake in Textron in the third quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Textron during the 2nd quarter worth about $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron during the 2nd quarter valued at about $31,000. Finally, Family Firm Inc. acquired a new position in shares of Textron in the 2nd quarter valued at about $40,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Down 0.4 %

TXT stock opened at $82.08 on Wednesday. Textron Inc. has a 52 week low of $75.81 and a 52 week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $85.26 and a 200-day simple moving average of $86.87. The stock has a market capitalization of $15.23 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.49 and a beta of 1.25.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 EPS. Equities analysts forecast that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. UBS Group cut their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Robert W. Baird decreased their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.